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fiscal cliff deal through the senate, and also through the house, they say they hope that he's coming with concrete spending cut ideas that are acceptable to the administration. one of the meetings today will be with senate republican leader mitch mcconnell who a short time ago sounded pretty fired up. >> the only reason democrats are insisting on raising rates is because raising rates on the so-called rich is the holy grail of liberalism. their aim is not job he tkraoe asian, they are interested in wealth destruction. not job creation but wealth destruction. >> reporter: a short time ago vice president biden was out and about and he told reporters that he is optimistic about the overall fiscal cliff talks, martha. martha: we'll see. the way they speak publicly there doesn't seem to be a lot of budging on either side. we know there were pretty high profile white house meetings, but those conversations, not happening publicly right now, but are they going on behind closed doors do we think? >> reporter: we know president obama and speaker john boehner had a phone conversation last nigh
at this with a great deal of optimism. >> i think we're going over the fiscal cliff. it's pretty clear that they have made this happen. they are not saving social security and medicare and medicaid from imminent bankruptcy. jenna: james is live in washington with more. reporter: yes, what is clear is increasingly, the two sides -- the obama, white house, senate democrats on one side, senate republicans on the other, there is a ticking clock involved here. they should be hitting their stride right about now. timothy geithner is trying to avoid plunging of the fiscal cliff. he has made clear that the obama administration is saying that the first order of business has to be to extend tax breaks for middle-class families and raise tax rates for the top 2% of income earners. talks over how to rein in entitlement spending should be held sometime next year. >> the president is asking for $1.6 trillion of new revenue over 10 years. twice as much as he has been asking for the public. his stimulus spending exceeded the amount of new cuts that he was willing to consider. it was not a serious offer. reporter: en
. >> trying to get two sides come together to come to a deal on the fiscal cliff. >> i don't know about young people's abilities to force cats and dogs and democrats and republicans to come together to find a deal. he had a much more profound message than just simply dancing in that clip, in that psa essentially. he was trying to alert young people to the fact that old people, bluntly, are organized. look at the army of aarp representatives that ensure that programs like medicare and social security, programs that take up something like 50% of our federal budget will remain intact and won't be subjected to the necessary reform to last for young people to ever reach them. the problem is that young people don't think life goes on after the age of 30. if you're on twitter and facebook, that's a long way away. why are you worried about entitlements? >> the funny thing is that president obama is using social media to do the exact same thing. for example, he will visit a virginia middle class family today. they were part of his twitter verse. that's why he chose them. he must think that talking to
to avoid a fiscal cliff. to your point, you recently said, even if we reach a deal, the economy is still at series risk of a recession. >> that is right. we are looking at and economy that is very weak. growth was very disappointed. less than 2% real gdp growth in 2012. we will be struggling to achieve that next year, even without hitting the economy with more fiscal bad news. if we go over the cliff, it is really a major downturn. uncertainty remains about what is coming next. put that all together and we could certainly be put on the edge of a recession. lori: that manufacturing number coming in the low 50s, singling contraction. is that the first signal that this economy really is in trouble? >> certainly not the first signal. household earnings down. real disposable personal income has not increased since may. we are really looking at an economy that is weak. ooly thing keeping keeping consumer spending going is that households have been prepared to cut back on their savings rate to such a low level that i do not think there is more room or that in 2013. lori: there are bright spots
. how do you view fiscal cliff discussions? >> i was pretty optimistic until about three days ago. my sense was republicans had lost enough ground, they wanted to get a new deal before they got weaker. they admitted that there has to be some revenue. meanwhile the obama team led by secretary geithner are comfortable with at least 2:1 what they would call entitlement cuts. so there was a lot of ground for a deal. unfortunately, i think the threats from some democratic leaders that maybe it's okay to go over the fiscal cliff, i'm worried some actually believe that and that's one thing that scares me. i think there's a deal on the table, get a few years deal, it's only if -- obviously the republican caucus could do something stupid, but owes otherwise my main word is the dems decide they want to play for a long term deal that it all has to be resolved right now and it's worth the risk and i don't think it's worth the risk. >> adam, always good to see you. thank you very much indeed. we move on, stay in the united states, strike at the port of los angeles long beach is entering its sevent
and republic leaders in congress have just 31 days to strike a deal before we fall off the fiscal cliff. but so far it's not looking like either side is willing to compromise. >> our next guest says there has been a failure in leadership to solve this crisis. joining us now is texas congressman louie gohmert. nice to see you. >> nice to see you. >> this is not necessarily against the president you have blasted g.o.p. leaders this week for a failure to lead basically saying we need to stand on our principles. they have a delegate -- delicate position to deal with. >> up until last week there had been a failure of leadership. the president out there finally pushing so far look we are going to forget the constitution. i'm going to basically pronounce law as i speak it congress hasn't done what i wanted, so we're just gonna ignore congress' constitutional right to appropriate. congress' constitutional right to set debt ceilings and we're going to ignore that that's what basically -- geithner basically announced. speaker boehner said look we can't allow that to happen. the fact is we can't. if we fa
are nowhere close to a deal to avert that fiscal cliff. the obama administration has laid out its plan calling for $1.6 trillion in new taxes. that includes letting the bush era tax cuts expire for those earning more than $250,000 a year. it's also pushing for a new $50 billion stimulus package and offering $400 billion in new cuts to medicare and other entitlement programs. but republican house speaker john boehner flatly rejected the plan on the table and what he calls the white house's unwillingness to compromise. >> i was just flabbergasted. i looked at him, i said, you can't be serious. i've never seen anything like it. you know, we've got seven weeks between election day and the end of the year. and three of those weeks have been wasted with this nonsense. >> you know, i think right now the best thing to do is for them to come to us and say, look, here's what we think makes sense. we've told them what we think makes sense. what we can't do is try to figure out what's going to be good for them. they have to come tell us. >> house minority leader and democrat nancy pelosi also jumping into
or congress to come together and reach a deal on avoiding that fiscal cliff and we are nowhere even close to any compromise after the president's proposal, ali. >> alisyn: yeah, it's not looking promising. because the president, i mean, the republicans say at that they were hoping that the president was going to try to meet them more in the middle or halfway because they all had agreed that they could raise 800 billion dollars with each of their separate tax proposals, one was to close loopholes on the republican side. and the president to raise on individuals and now the number has changed. the president in his proposal wants 1.6 trillion dollars in tax increases. here is the president on how the g.o.p. has not been cooperating. >> if congress does nothing, every family will see their income taxes automatically go up, a typical middle class family will see their taxes rise by 2200 dollars, but it's unacceptable for some in congress to hold middle class tax cuts hostage because they refuse to let the tax rates go up on the wealthiest americans. >> a lot of people saying that there's not b
Search Results 0 to 8 of about 9 (some duplicates have been removed)

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